Rosstat Tracks Crisis
The Russian federal statistics service yesterday published detailed data on socio-economic conditions in Russia in October as the financial crisis entered its critical phase. There was a sharp fall in production in ten of the 25 leading industrial regions of Russia, with metals, chemicals and heavy industry hardest hit. Geographically, the Urals and Northwest Russia were the centers of the crisis in industry and southern Russia was the center of the crisis in trade. Overall, industrial production was up 0.6 percent in October compared to October 2007, with growth down 10 percent in Lipetsk, Nizhny Novgorod, Vologda and Chelyabinsk Regions.
Lipetsk, Vologda and Chelyabinsk Regions are centers of metallurgy, with Novolipetsk Steel, Severstal and Mechel located in them. In Nizhny Novgorod Region, SIBUR (chemicals) and GAZ (heavy industry) were most affected. In St. Petersburg, where industrial production was down 11.9 percent, heating and electricity were down 62.1 percent. Industrial production was down 7.7 percent in Kaliningrad Region.
The Urals, with its mining industry, was another center of crisis. Production fell in Sverdlovsk and Kemerovo Regions and Perm Territory. Problems there are mainly related to coal and problems with coal companies that are owned by the metals companies mentioned above. Chemical producers Silvinit and Uralkaly and nitrogen producers also had troubles. In Moscow, production was down a mere 1.3 percent, which was evenly distributed among all sectors.
The producer price index was down an average of 6.4 percent compared to September, with it being 12.8 percent lower in Tatarstan and 21.6 percent lower in Tyumen, mainly because of falling oil prices. The PPI grew by 4.7 percent in Novgorod Region and 5.3 percent in Murmansk Region.
www.kommersant.com
All the Article in Russian as of Dec. 04, 2008
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Photo: Roman Yarovitsin
